News and Information
October 27, 2009

VSB Council Recommends Payee Notification

On October 16, 2009, the VSB Council recommended by a vote of 39 to 25 a statute that would require insurance companies that pay liability claims to notify claimants when the company distributes settlement proceeds of $5,000 or more to claimants’ attorneys. The American Bar Association recommends Payee Notification as a measure to deter lawyers from stealing and to detect thefts sooner. See http://www.vsb.org/site/public/payee-notification

 

 

Updated: Oct 27, 2009